In the State of Michigan Manual for Reporting Unclaimed Property on page 2-11 it states for Cash: List coins by denomination. Normal looking currency should be converted to a bank cashier's check paybale to the St of MI and submitted with other safe deposit box contents. Unusual or distinctive currently should be remitted....

I am reading this to mean:
1- Convert normal looking PAPER currency to a cashiers check and note on teh inventory sheet that cash has been converted..

- Coins, whether normal looking or distinctive, should be listed by denomination and remitted with the rest of the contents.

- Unusual or distinctive PAPER currency should be remitted .....

Two questions:
1. Am I reading this right?
2. is the $ amount of the coin reported based on denomination/face value or does an appraisal have to be obtained if coins could be collectible.

1)Yes you are reading it right;
2)The value is based on face value.